ComplaintsforSmartBiz Loans
Additional Complaint Information
BBB encourages consumers to review the company’s links below with company’s contact information and information about loans’ steps.
https://www.smartbizloans.com/how-it-works
https://resources.smartbizloans.com/blog/small-business-loans/small-businesses-documents-you-need-to-apply-for-sba-loans
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Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
08/23/2024
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Unanswered
Smart biz plans collected loans in my business name and applied for multiple without notifying me. They were even awarded a loan in my name.Initial Complaint
10/14/2022
- Complaint Type:
- Order Issues
- Status:
- Unanswered
Loan number - ******* I filled for a loan on-line through SmartBiz Loans. I contacted them several times for updates on the status of processing multiple times. Responses were not provided and the loan was not processed. After some time, I no longer needed the loan but they had all *************** financial statements and paperwork that I requested to be destroyed seeing nothing at all was done and NO COMMUNICATION or decision was ever made.I reached out to them and requested that my paperwork be destroyed but they are ignoring ***********. This company is a fraud and a scam. They request all your financial documents during the pandemic and then you do not hear from them ever again. All emails were ignored requesting updates and then later destruction of *************** financial documents was also ignored. SmartBiz Loans has NO authority to share my documents with any third party for any reason at anytime.Initial Complaint
09/02/2022
- Complaint Type:
- Order Issues
- Status:
- Unanswered
Hello I was partner for sbabizloan and I have entitles to PPP loan commission. They not paid it or respond to my email Need help from BBB Thank youInitial Complaint
07/08/2022
- Complaint Type:
- Billing Issues
- Status:
- Unanswered
They make a payment to my bank account that has been closed. i want my $4167 loan sent to another bank accountInitial Complaint
12/19/2021
- Complaint Type:
- Product Issues
- Status:
- Answered
I applied for a ppp loan on 3/9/21. I then requested my application be withdrawn. I received an email confirmation from SmartBiz on 3/13/21 saying my application had been withdrawn. It has recently came to my attention that a loan was approved by ************** for $20,833 in April 2021. It seems SmartBiz submitted my application to ************** anyway. Being that Smartbiz was receiving kickbacks for processing ppp applications SmartBiz went ahead and submitted my application anyway. As of December 13, 2021, after contacting **************, the bank has canceled the loan. ************** stated that SmartBiz is one of their vendors. I will be reporting SmartBiz for fraud.Business response
01/25/2022
Thank you for giving us the opportunity to look into your PPP application. Our records indicate that your loan application was submitted to the *** BEFORE your request to withdraw. Your application was ultimately declined due to indications of ineligibility. We apologize if this caused any issues and we wish you and your business the best.Customer response
01/26/2022
Complaint: 16380051
I am rejecting this response because I contacted SmartBiz Loans numerous times regarding withdrawing my application and when someone finally responded they informed me my application had already been withdrawn. They did not mention anything about the application already being sent to SBA within a few days of me submitting the application. SmartBiz is completely making false statements about the loan being declined for ineligibility. SmartBiz partners with *************** I contacted ************** and they informed me that I indeed was approved for a $20k loan but the paperwork was never signed to release funds. I believe SmartBiz Loans submitted my application after I requested they withdraw it so they could continue to collect their processing fee that they receive for processing each PPP application. SmartBiz Loans could not provide any documentation showing when they actually submitted my application. I will be contacting SBA regarding their fraudulent actions.Sincerely,
*********Initial Complaint
12/02/2021
- Complaint Type:
- Order Issues
- Status:
- Resolved
I have attempted to contact them multiple times to find out how to apply for forgiveness for the ppp loan filed for a business.None of their emails appear to work and I am constantly getting failure to deliver messages. This business has not real contact and I regret doing business with them as they are appearing more fraudulent each day.Business response
12/10/2021
Dear Asha,
Thank you for giving us the opportunity to answer your questions. Were glad the information sent to you directly was what you needed.Please note our customer support lines are fully operational as is our online chat. Were glad we could help your business secure a PPP loan and hope you found the funds helpful.
Customer response
12/11/2021
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me.My representative went above and beyond to assist to me. Thank you for all of your help
Sincerely,
*********************Initial Complaint
09/23/2021
- Complaint Type:
- Product Issues
- Status:
- Answered
I applied for a PPP loan and was assigned a PPP loan number and supposedly approved on May 12, 2021 but never received the funds because they said they couldnt verify my information though they repeatedly said that all my my information was received and correct.Business response
10/04/2021
Dear *****,
PPP loan number assignment is just one step in the approval process. Because of the increased rate of fraudulent applications received with PPP, the bank requested an enhanced identification verification process and manual reviews. Unfortunately, your application did not pass the bank requirements for enhanced identity verification and/or account compliance. As a result, we were unable to process your application further.
SmartBiz is a service provider to banks and does not define the lending requirements or make the final lending decision. The bank specifies the qualification requirements potential customers need to meet, and the required documentation, customer identity validation and the number and types of checks for identifying potentially fraudulent applications. We are sorry we could not assist you with this financing.
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Customer Complaints Summary
7 total complaints in the last 3 years.
1 complaints closed in the last 12 months.